all of the world waiting long EUR/USD, thats not true way. it must be like that in order : firstly 1.metals 2. GBP/USD 3. EUR/USD 4. JPY/USD We say all of the theory new money which is ( Special Drawing Rights - SDR ) IMF's monetary policy should be like that. then China and other countries are also slowly should attend system. IMF is adviced to all the world's development and reconstruction
Hey thank you, I agree with the synopsis that metals should lead, but we live in a non metals denominated currency society. The Greenback isn't backed by metal anymore, but there is a definite floor for silver as the average cost of mining production is somewhere between 12-13.50/oz depending on the producer. There is some support here at 15.420 as you've shown as well
blackpirate
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mining production costs are not a criteria for price movements. look at the oil and other commodity prices ;) supply and demand is another story but this is not a real criteria either. the market is overly manipulated by the paper contractors , maybe it will drop maybe not maybe there will be a flat move... That's why i don't recommend people trade gold and silver on the FX market.
mucahit06
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Wall Street invented high frequency trading a few years back. These algorithms now generate a huge portion of daily trading volüme. not only paper contructors manipulating precious metals, at the same time digital contractors(like as FED) manipulating precious metals too
ShirokiHeishi
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Thanks for the feedback. If a producer loses money (to a point) in a mine, or well, or corn field, they shutter it affecting supply. Remember "Drill baby Drill" I think that ideology also affected supply. The oil market collapsed because the supply far outstripped the demand. We never know exactly when the negative feedback takes hold, but cost is an over-riding factor in most cases, and here we have a tangible cost level of production, so we can only apply that logic so far. You are correct in your statement that the mining production is not a criteria for price movement, it is the other way around. You are also correct in the 'paper contractors' (if I follow your meaning correctly). But since we all know the markets are heavily manipulated we play at our own risk. Either way the old axiom will always hold true for commodities. A lot of producers came on-line during the run up in commodities, now they are unprofitable. A strong dollar, waning demand, you pick your poison; nothing cures low(high) prices like low(high) prices. Thanks again for letting me air that out. Trade well.
blackpirate
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yeah couple of miners already stopped silver production due to cost issues .but that doesn't mean silver will be skyrocket .
my opinion is same as mucahit's , i think silver will see above 25$ in this year. but still i won't trade this sucker on OTC market even i have huge margin balance.I invested a lot on silver, but only physical investment.
I recommend FX for changing currencies only , this system is not safe for commodity tradings because of manipulators i mentioned above. ;)
ShirokiHeishi
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Agreed, absolutely physical silver. I don't trade silver on the FX markets either, only the USD pairs, I just use it for my charting purposes. BTW 25$ this year is close to my thoughts at 21, but long term could see 60. We too are holding physical bars and coinage right now with a very positive cost basis. Trade well.
mucahit06
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XAGUSD Production and reserves balance see that; You can follow this link usdebtclock.org/gold-precious-metals.html (real league of the link data has not been confirmed) if u are SLV metal collectors sell upper than 21usd and than waite to buy long 6-8usd. ''every man for himself'' we say in turkish ''then every sheep for his own leg'' :))